Load credit without Credit Bureau or despite Credit Bureau entry: (un) possible? Few customers know how risky such a loan is despite Credit Bureau. Getting a loan with a paid Credit Bureau entry is not easy. A loan application for funding was immediately rejected. For more information, see Financing a negative Credit Bureau entry.
Credit for a Credit Bureau booking that has been settled
A loan is not granted without a previous Credit Bureau examination. If you have negative bookings, you will only receive a negative answer to a loan application. In the Credit Bureau, the negative entry means that the consumer is neither entitled to a credit, nor can he conclude a mobile phone contract or hire purchase. The affiliated banks and companies report unpaid claims or loans to Credit Bureau.
A completed Credit Bureau entry is positive, but it is not easy for you to grant a loan with a completed Credit Bureau entry. It can be discussed whether the period from three years to the final deletion of the Credit Bureau entry is justified. For some debtors, this booking still impairs their creditworthiness and most credit institutions do not grant a credit with a Credit Bureau entry that has been settled under these conditions.
In such a case, the borrower must accept a higher interest rate. Such a calculation of credit rating-dependent interest payments is widespread and is also accepted by consumers. They prefer to pay more interest than to postpone the loan entirely. Those who prefer to avoid the whole can get a loan in Switzerland through the financial services sector.
The Credit Bureau is of no importance in the credit check. All he has to do is have a permanent job, live permanently in Germany and be 18 years old. However, the loan amount is limited. Under these conditions, there is always the possibility at home and abroad to grant a loan with a paid Credit Bureau entry.
Debt restructuring with Credit Bureau entry
If it is a debt rescheduling with Credit Bureau entry, it must be clarified in advance whether it is a negative booking or just a booking via the other current loan. Rescheduling with the Credit Bureau entry is in principle not an issue, because if there were no other loan, it would not have to be rewritten.
If the Credit Bureau is positive, it will look different. With the negative Credit Bureau, rescheduling with a Credit Bureau entry becomes difficult, however, because the credit institutions recognize the credit default risk and the rescheduling will generally not be sufficient. There are a number of reasons for rescheduling debt. Often times, consumers have made several loans over time, which leads to a quick loss of overview.
In such cases, the situation can be remedied by replacing the existing loans and merging them into a new loan. If the customer who wants to reschedule the receivable does not have a bad credit rating and is otherwise of good credit standing, the credit institutions will agree to the loan applications for rebooking without problems.
The same applies if rescheduling can save costs because an expensive loan is replaced by a loan on more favorable terms. But if you can no longer pay your installment because the financial situation has changed to your disadvantage and you have already received a Credit Bureau entry, you will have problems if you want to carry out debt restructuring with the Credit Bureau entry.
Anyone who receives a rejection from the house bank in the event of a scheduled postponement should not stop immediately, but should try their “luck” with several house banks. Ultimately, a credit broker may also be able to help, because he also has connections to less risk-averse banks and also approves loans if there is a Credit Bureau entry.
If you are already completely in debt, rescheduling the debt will not change the situation. In this case, it is better for the borrower to contact a debt counseling center to get help with their financial problems.